Chief minister Arjun Munda on Tuesday inaugurated a coated steel manufacturing facility at Sidhgora’s Tata Bluescope Steel, which is a joint venture company between Australia-based Bluescope Limited and Tata Steel.

The facility, the foundation stone for which had been laid by Munda way back in 2005, will manufacture globally acclaimed brands of steel like Zincalume (metallic coated) and Colorbond (pre-painted).

Apart from this, the new facility also boasts of a coil packaging line with a production capacity of almost 15 coils per hour, which will cater to the demands of construction companies across the country as well as those in the SAARC region.

Addressing the inauguration function, chief minister Arjun Munda expressed hopes that the joint venture between the companies would help improve the economy of Jharkhand in general and that of the country as a whole.

Munda also asked the Tata- Bluescope bosses to tap into the locally available human resources, stating that there was no dearth of quality manpower in Jharkhand which already has 67 ITIs and would add 33 more by the end of 2013.

“The plant should look at options for skill development of the locals and look to harness their potential, thus paving the way for inclusive growth.,” Munda said.

The chief minister also asked the company to ensure that the green cover of the state is not affected while it undertakes expansion plans.

Australian high commissioner to India Peter Varghese, who was also present during the inauguration, said that the joint venture would help forge better economic, trade, business and investment ties between both the countries.

“Australia visualises India emerging as an economic power in the next 20 years or so and as one of its important strategic partners. Collaborative efforts like these will help strengthen the bonds of friendship between both the countries,” he said.